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Factors To Be Considered While Buying Health Insurance Plans for Parents and Senior Citizens

Published On Apr 08, 2019, Updated On Dec 04, 2020

Age, for senior citizens, is a factor that affects their golden days and also the matter that how they spend their hard-earned savings. Their only companion these days is good health so that they don't have to wave off their lifelong earnings on the skyrocketing costs of medicines, hospitalization, and treatment, etc. Also, senior citizens rarely have any scope of regular income. This problematic combination can make retirement a burden instead of happy second innings.

At such times, senior citizen health insurance can come to their aid and prove to be a boon. 

Factors to Consider Before Choosing a Health Insurance Plan for Old Parents or Senior Citizens 


A vital thing in selecting health insurance for senior citizens is to shortlist the health insurance that is offered to people in their 60s-80s of age. When purchasing health insurance at an older age, you must choose a plan that offers coverage features for the longest period of time.

Health insurance cannot be extended after an individual turns 80. So, purchasing a new one rather than renewing the previous one at old age is a wise option. 

Pre-existing condition and its coverage:

Many health insurance plans include a waiting period on pre-existing diseases, which you must verify before purchasing the policy. Considering the fact that senior citizens are more likely to claim for expenses related to pre-existing ailment, opting for health insurance with a lesser waiting period thus makes sense even if it costs you a higher premium.

Also, health insurance plans may not cover all your medical expenses. For instance, many of them do not cover dental surgeries, pre, and post-hospitalization expenses, or hereditary conditions. So, to make the best choice, prefer going for a policy that comes with the least number of exclusions even if it demands a greater premium.

Insured amount:

You must assess your needs and purchase a policy by prioritizing high coverage features over the low amount of premium. Additionally, one can also go for a super top-up if not buying a new one. This might help as these health insurance plans have a higher deductible, and are therefore affordable as compared to base health insurance plans with high coverage.      


Health insurance plans for senior citizens generally come with a clause for co-payment. This means that the insured individual has to pay a part of his/her medical expenses from own pocket at the time of medical emergency. The co-payment clause varies in different health insurance plans and you must analyze this factor before purchasing a policy.

Reimbursement Vs Cashless policy:

Most of the senior citizens depend on pension funds or savings and generally don't have any income on a regular basis. So, the idea of cashless policy is always favorable for them instead of the one where they get reimbursements against claims. Because in the latter, one has met up the expenses from own pocket, which may lead to financial problems.                                

Network hospitals:

To make the best use of your health insurance policy, consider the empanelled hospitals that are approved by the insurance provider. Because the insured individual seeks medical treatment only from the empanelled list of hospitals approved by the insurance provider, you should ensure that these hospitals are in the immediate location. Otherwise, the elderly person will have to travel across places to avail benefits.   

Top Senior Citizen Health Insurance Plans 

1. Senior Citizen Red Carpet Plan (60-75 years)- It is available with a greater sum insured coverage from Rs. 1 Lakh to Rs. 10 Lakh. Other benefits include lifetime renewability and no requirement of a pre-medical check-up.

2. Bajaj Allianz Silver Health Plan (46-70 years)- Silver Health Plan from Bajaj Allianz is available for sum insured of Rs. 50,000-Rs. 5 Lakh. Some of the benefits of this plan are-1 year waiting period for pre-existing diseases, no limit on room expenses and coverage of up to 50% of sum insured for pre-existing diseases.   

Also Read

A Perfect Health Insurance Plan for Your Parents

Things to Consider Before Getting Your Parents Insured

Take Away

So, to choose the best one from the widest range of senior citizen health insurance plans sized your requirements, compare the health insurance plans that other health insurance companies are providing. Don’t worry even if the premium turns out to be a little greater for senior citizen health insurance as one can avail tax benefits. 

Nowadays, selecting one from numerous health insurance plans available in the market might be a daunting task which may leave you wondering if you have made the right choice or not. To simplify it for you, has a number of experienced health insurance executives who identify your requirements and offer you the best deal possible. So, get in touch with us today by writing us to today for a healthier tomorrow!     

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